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20121129
20121207
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: i'm tom hudson. president obama tries to win over top business leaders, warning republicans are holding the global economy hostage over the fiscal cliff.
. they're expected to sleep .1%. quite a lot to get to. president obama is speaking to the business council in washington at 10:45 eastern as he pushes for a budget plan to avoid the fiscal cliff, that includes high tax rates for the wealthy. house republicans are meeting with small business owners today. lawmakers are divided on how much they should compromise with the white house. this is a day after the house speaker john boehner unveiled a budget proposal that included some revenue concession but he faced heavy criticism. mitch mcconnell wouldn't publicly endorse boehner's plan, while jim demint says it would destroy jobs. at the same time, the kkr co-chairman and ceo henry kravis says uncertainty is the main reason why investing isn't happening right now. he says many companies are rushing to close deals before the end of the year, concerns about whether the capital gains tax will rise. he says the fiscal cliff shouldn't be a big issue, and if businessmen got into the room they could solve the problem much faster than congress. >>> adding his tuppence, he says they'll have to g
and put businesses in a further hole. president barack obama, august, 2009. he was absolutely right then. those facts hold true today. it's not just those facts hold true over a small period of time, mr. speaker. those facts hold true over a decade. john kennedy's quotes, president john f. kennedy, i just want to take you back, mr. speaker, it's not as if these are new ideas we are talking about. this isn't some rocket science problem that's suddenly been thrust upon the united states of america in 2012. these are basic economics. adam smith talked about these years ago. this is in one of john f. kennedy's news conference in 1962 as he was providing the largest tax cut in modern american history he said this, he said it's a paradoxical truth that tax rates are too high and tax revenues are too low. that's where we are today, mr. speaker. tax rates are too high and tax revenues are too low. it's a paradoxical truth that can be true. he goes on. he says the soundest way to raise revenues, that's exactly what we are trying to do when we talk about balanced approach. we need to cut spending.
'll have to move. so this is obama 2.0. a much more engaged, a much more activist president. you series bringing a business community in, community leaders, small business, not for profit. he'll be much more engaged in this second term. >> morris, on this issue, are we just going to get something that just gets us through this period? because there are those who want to tie in a longer term debt strategy and solution. it seems if we do that, that will muddy the waters here short term. >> he what they need to do is c to an agreement on what they can agree on. the president said we should all be able to agree on this first 23 250,000 and then move to the next congress for something more comprehensive. there's never going to be a situation where you'll be able to swallow the whole pie. comprehensive tax reform is very hard and dealing with all the entitlements will be very hard. so i think the best thing to do is get something that gets us past the dead line and then come back to the table and get something more comprehensive done. >> when it comes down to it, are politicians, in their gut
Search Results 0 to 3 of about 4